VRG had PLN 39.79 million of net profit, PLN 79.68 million of EBITDA in Q4 2021

VRG recorded PLN 39.79 million of consolidated net profit in Q4 2021 compared to a loss of PLN 13.9 million a year earlier, the company said in the report.

The operating profit amounted to PLN 53.61 million versus PLN 2.89 million loss a year earlier. The EBITDA result reached PLN 79.68 million compared to PLN 22.81 million a year earlier.

Consolidated sales revenues reached PLN 348.8 million in Q4 2021 compared to PLN 232 million a year earlier.

In 2021, the company had PLN 66.31 million of consolidated net profit compared to PLN 39.93 million loss a year earlier, with sales revenues of PLN 1,069.93 million compared to PLN 853.71 million a year earlier.

"Consolidated revenues of the VRG Group in 2021 amounted to PLN 1.07 billion and were significantly, by as much as 25.3%, higher than in 2020. Thus, the VRG Group exceeded the level of revenues from the historically record-breaking year 2019. To achieve sales at the level of over PLN 1 billion, i.e. the target of the VRG Group for 2021, favorable trends both in sales in brick-and-mortar stores and online. The increase in sales in brick-and-mortar stores was positively influenced by the rebuilding of consumer demand accompanying the growing level of vaccination in Poland. After the administrative closure of stationary stores in January and from March 20 to May 4, we observed a more dynamic than a year ago return to social and economic life, which had a positive impact on the traffic in our stores "- wrote p.o. President Jan Pilch, in the letter attached to the report.

On a standalone basis, the net loss in 2021 amounted to PLN 0.13 million compared to PLN 53.91 million loss a year earlier.

VRG specializes in the design, production and distribution of jewelry and fashion collections for women and men. Since 2000, the basis of the company's strategy has been to focus on the function of brand "operator", clothing designer and distributor on the retail market. Its consolidated revenues in 2020 amounted to approx. PLN 853 million.

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